Opinions plz

[Acit]

Hi to all bro and sis, i want to ask for opinions.i traded in my bike for another bike.as the bike is not ready the shop asked me to ride the old bike.during the waiting period,i met with an accident.the problem is now the shop asked me to continue paying my old bike

installment together with the new bike.this shop already made the full settlement with my

previous shop trnf ownership also been done.their reason "because of accident".

is there such thing?? Plz advised got really confused.

[mechwira]

you already signed to order and purchase the new bike from the shop. thus, as far as the shop is concerned, you are obliged to pay for the bike you ordered.

 

the shop was supposed to get your current bike and sell it off. the market value minus the amount owed in instalment is supposed to be offset against the new bike as deposit.

 

so now you crash the bike, you still owe them the new bike purchase in full, plus the amount of instalment they paid off for you. its that simple. the shop is right.

 

what were you expecting? they cancel off your new bike purchase and tell you no need pay off the bike you crashed?

[Acit]

thanks for the reply mechwira.but they took the bike for break even.and for the new bike i paid downpayment for it??then how

could i still owed them the installment for the old bike?Furthermore the old bike now is under insurance claimed.

[Acit]

They told me to continue paying till the claimed is over?But that would have a changed in the traded in value??

[mechwira]

thanks for the reply mechwira.but they took the bike for break even.and for the new bike i paid downpayment for it??then how

could i still owed them the installment for the old bike?Furthermore the old bike now is under insurance claimed.

 

sorry, i realli dont get your confusion.

 

your new bike, you ordered means must pay. if your crashed bike was not part of the deposit, then this payment remains unchanged. must pay. yes?

 

now the crashed bike. they paid of the instalments for you. thus you owe them the instalments. they supposed to sell it off and consider that as instalments paid.

 

but you crashed the bike. so they cannot sell it to pay off the instalments you owe. thus you still owe them the instalments.

 

now you mention you receive insurance payout. to clarify, this insurance payout belongs to you completely and the shop is not involved in a single cent of this money. it does not matter that ownership is under them, accident insurance payout is for the victim in this case you. where the shop is concerned, you owe them instalments because the bike is no longer available.

 

so you still have to pay the instalments, and logically the insurance payout you receive is supposed to be, on your part, used to pay the instalments you owe. if your payout is less than what you owe, you still must fork out the the balance. you owe the shop the instalments they paid for you.

 

so please enlighten me where is the confusion, i realli dun get the problem.

[mechwira]

They told me to continue paying till the claimed is over?But that would have a changed in the traded in value??

 

sorry bro, with the bike gone you owe them the instalments in full exactly. any change in trade-in value is not for the shop to bear, because they were supposed to receive the bike. but with it crashed, then essentially you owe the instalment money in full. like i mentioned in my previous post, whatever claim money is between you and accident people. the shop's rights is only the instalment money you owe them. watever insurance payout has nothing to do with them.

[mechwira]

put yourself in their shoes maybe can understand.

 

you are the shop. customer come to you, say want to buy R1 for $30k. customer has CBR150, market value say $2k and coincidentally instalments of $2k left to pay. you go the customer's other shop and pay off the $2k instalments.

 

how much the customer now owe you? $30k for the R1 and $2k for the instalments you just took in.

 

originally you were going to sell off the customer's CBR150 for $2k and thereby consider that as settled. but out of courtesy you tell customer to go ahead keep using until the new R1 arrive.

 

now customer crash his CBR150. so he still owe you the $2k of instalments.

 

if the customer only receive insurance one year later when market value is $1k, does that mean the customer only owe $1k? of coz not. you paid off $2k worth of instalments and thats what the customer owes you. the drop in market value is not your responsibility to bear because you're not the one involved in the crash. your only concern is only the $30k of new bike and the $2k owed from the missing bike.